Question: Interest has accrued at 6% on the long-term notes payable since August 1 201 S. The next six-month interest payment at 7% on bonds


Interest has accrued at 6% on the long-term notes payable since August 1 201 S. The next six-month interest payment at 7% on bonds payable is due on February 1, 2019. The interest accrued at 12/31/18 on the short-term note payable of S15,OOO @ 10% is $1,500. Interest for the short-term note payable is payable on January 2, 2019_ (The note is due in 2019.) (Note: No entry to amortize the discount on bonds payable . Ignore the discount when calculating interest.) IS necess
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